Fidelity National Financial, Inc.

Ticker: FNF CIK: 1331875

FNF Reports Second Quarter 2019 Diluted EPS of $0.96 and Adjusted Diluted EPS of $0.92, Pre-Tax Title Margin of 18.5% and Adjusted Pre-Tax Title Margin of 17.7%

Jacksonville, Fla. - (July 16, 2019) - Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance and transaction services to the real estate and mortgage industries, today reported operating results for the three and six-month periods ended June 30, 2019.

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Total revenue of approximately $2.1 billion in the second quarter versus $2.1 billion in the second quarter of 2018

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Second quarter net earnings of $266 million and adjusted net earnings of $255 million versus net earnings of $251 million and adjusted net earnings of $239 million for the second quarter of 2018

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Second quarter diluted EPS of $0.96 and adjusted diluted EPS of $0.92 versus diluted EPS of $0.90 and adjusted diluted EPS of $0.86 in the second quarter of 2018

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Realized gains were $41 million in the second quarter versus realized losses of $16 million in the second quarter of 2018, primarily due to the adoption of a new accounting standard in 2018 that requires mark to market accounting treatment of equity and preferred stock securities and recognition of the related changes in fair value in realized gains and losses, whether the securities were disposed of in the quarter or continue to be held in our investment portfolio

Title

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Total revenue of approximately $2.1 billion versus approximately $2.0 billion in total revenue in the second quarter of 2018

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Pre-tax earnings of $387 million and adjusted pre-tax earnings of $363 million versus pre-tax earnings of $300 million and adjusted pre-tax earnings of $337 million in the second quarter of 2018

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Pre-tax title margin of 18.5% and adjusted pre-tax title margin of 17.7% versus pre-tax title margin of 15.3% and adjusted pre-tax title margin of 17.1% in the second quarter of 2018

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Second quarter purchase orders opened decreased 2% on a daily basis and purchase orders closed decreased 6% on a daily basis versus the second quarter of 2018

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Total commercial revenue of $286 million, a 2% increase versus total commercial revenue in the second quarter of 2018, driven by a 5% increase in total commercial fee per file somewhat offset by a 3% decrease in closed orders; second quarter total commercial orders opened increased 8% compared to the prior year

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Overall second quarter average fee per file of $2,677, a 4% increase versus the second quarter of 2018

Title Orders

Direct Orders Opened *

Direct Orders Closed *

Month

/ (% Purchase)

/ (% Purchase)

April 2019

184,000

63%

114,000

65%

May 2019

179,000

63%

127,000

64%

June 2019

181,000

57%

118,000

65%

Second Quarter 2019

544,000

61%

359,000

65%

Direct Orders Opened *

Direct Orders Closed *

Month

/ (% Purchase)

/ (% Purchase)

April 2018

167,000

70%

114,000

69%

May 2018

175,000

72%

124,000

71%

June 2018

163,000

71%

124,000

73%

Second Quarter 2018

505,000

71%

362,000

71%

* Includes an immaterial number of non-purchase and non-refinance orders

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The following information was filed by Fidelity National Financial, Inc. (FNF) on Tuesday, July 16, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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